Increased performance and durability of industrial coatings, as well as increased demand for industrial coatings in various sectors, are driving factors in the market. The restricting element is government restrictions prohibiting the use of hazardous compounds in industrial coatings. The primary market trend that is projected to fuel market growth during the forecast period is product line expansion with low curing temperature. Koninklijke DSM N.V., a worldwide science-based firm in nutrition, health, and sustainable living, for example, introduced Uralac EasyCure resin, P3225, for fast-cure or low-temperature powder coating in 2021. Uralac EasyCure P3225 cures in minutes at 180°C and provides a one-of-a-kind mix of coating benefits, including good appearance, increased degassing limit, robust outdoor endurance, and consistent storage stability.
According to Coherent Market Insights, Global Industrial Coatings Market was valued at US$ 36450.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.51 % during the forecast period (2022 to 2030).
Top Companies in the Industrial Coatings Industry:
1. Akzo Nobel N.V.
Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. It offers decorative paints, including paints, lacquers, and varnishes; and a range of mixing machines and color concepts for the building and renovation industry, as well as specialty coatings. Akzo Nobel N.V. was founded in 1646 and is headquartered in Amsterdam, the Netherlands. In November 2019, Akzo Nobel N.V. acquired Mapaero, a France-based aerospace coatings manufacturer, to strengthen its global position in aerospace coatings.
2. Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Mobility Coatings. The company was founded in 1866 and is headquartered in Philadelphia, Pennsylvania.
3. Beckers Group
The company is manufacturer and supplier of industrial and coil coatings based in Berlin, Germany. The company offers its services to building and construction, domestic appliances, vehicles, heavy-duty machinery, and consumer goods sectors. The company is headquartered in Berlin, founded in 1864.
4. Berger Paints India Limited
Berger Paints India Limited manufactures and sells paints for home, professional, and industrial users in India and internationally. Berger Paints India Limited was incorporated in 1923 and is based in Kolkata, India. Berger Paints India Limited is a subsidiary of U.K. Paints India Private Limited.
5. Chugoku Marine Paints, Ltd.
Chugoku Marine Paints, Ltd. manufactures and sells marine and industrial paint products worldwide. It also offers paint products for industrial segments. Chugoku Marine Paints, Ltd. was founded in 1917 and is headquartered in Tokyo, Japan.
6. Kansai Paint Co., Ltd.
Kansai Paint Co., Ltd., together with its subsidiaries, manufactures and sells paints and coatings in Japan, India, Asia, Africa, Europe, and internationally. Kansai Paint Co., Ltd. was incorporated in 1918 and is headquartered in Osaka, Japan.
7. KCC Corporation
KCC Corporation provides building materials in South Korea and internationally. Its building materials include celling materials, insulation materials, gypsum board, and flooring materials. KCC Corporation was founded in 1958 and is headquartered in Seoul, South Korea.
8. PPG Industries, Inc.
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through Performance Coatings and Industrial Coatings. The company was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
9. The Chemours Company
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Chemours Company was incorporated in 2014 and is headquartered in Wilmington, Delaware.
10. The Sherwin-Williams Company
The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
*Definition- Industrial coating is a paint or coating that is defined by its protective capabilities rather than its aesthetic properties, though both can be provided. Corrosion management of steel or concrete is the most prevalent application of industrial coating.
